-
Finish Line’s Q1 profit tops Street; COO to retire
Indianapolis - The Finish Line's first-quarter net income plunged 59% amid start-up costs related to its deal to open branded in-store shops in Macy’s. But the retailer still beat Wall Street expectations. In other news, the company announced a new role for retiring president and COO, Steve Schneider.
The Finish Line earned $5.1 million for the period ended June 1, down from $12.3 million a year ago. Revenue rose 10% to $351.1 million, also beating expectations. Same-store sales were up 2.4%.
-
Closing arguments in Macy’s-JC Penney suit set for Aug. 1
New York – Closing arguments for the lawsuit Macy’s filed against JC Penney and Martha Stewart Living Omnimedia last year are scheduled to commence Aug. 1, according to a report in Reuters. The suit claims a December 2011 agreement to create Martha Stewart boutiques in JC Penney stores violated Macy’s exclusive right to sell Martha Stewart Living products.